June 20, 2017
Jon Najarian of CNBC’s ‘Fast Money’ calls in to discuss predatory pricing, $UBER, $AMZN and much more. Joel Elconin of Benzinga touches on the NBA Draft before talking markets. Kenny Polcari, Director of NYSE Floor Operations at O’Neil Securities and a contributor to CNBC, talks North End Boston after Matty Weber’s trip and then wonders what’s up with oil? Rick Newman, author and columnist for Yahoo Finance, breaks down tax reform, inflated healthcare costs and more. Finally, John Neal of PTI Securities & Futures‘ Peoria, AZ location tells us about the debilitating weather in Phoenix before sharing trading strategies with the Chief.
Guests & Co-Hosts
Jon “DRJ” Najarian is a professional investor, noted media analyst and speaker, and cofounder of Market Rebellion, a leading site for options and equity traders. Following a brief stint as a Chicago Bears linebacker, Jon launched his financial career at the Chicago Board Options Exchange (CBOE) in 1981, trading in the pits for some 25 years. In 1989 he founded Mercury Trading, running the company for 15 years until 2004, when he sold his floor-trading operations to Citadel. Jon has developed and patented trading applications used to identify unusual activity in stock, options, and futures markets, notably the Heat Seeker® program, which scans up to 10 million quotes per second. Jon’s research and analysis is widely cited by leading financial media as he appears daily on CNBC as well as articles published in Barrons, the Wall Street Journal and other leading financial periodicals. OptionMONSTER has been described by Securities Industry News as “content king of the options business,” and enjoys syndication agreements with CNBC, TheStreet.com, the Chicago Board Options Exchange, and NASDAQ. Jon & his brother Pete also run a private equity fund and are consultants for Najarian Family Office, a wealth management firm based in Chicago & Minneapolis. Read more.
Joel’s introduction to trading was in the Standard and Poor’s 500 Index futures pit at the Chicago Mercantile Exchange. Also, during his time at the CME, he was involved in Index Arbitrage as well as trading foreign currency futures and options. From 1994-1999 he was a proprietary trader for Olde Discount Corporation. Following his tenure at Olde Discount, he founded the Detroit office of Bright Trading, LLC. His responsibilities included trader recruitment, orientation and education as well as the day to day management of the office. He held this position office until 2003. Since 2003, Joel has been an independent trader researching and developing proprietary indicators and trading systems for the equities and futures markets. In 2007, Joel joined JC Trading Group as a Market Consultant and trading supervisor. He provides daily market commentary at www.premarketinfo.com. Joel obtained his Bachelor of Art in Political Science from the University of Michigan in 1985. Also, he is a graduate of the Chicago Mercantile Exchange Continuing Education Program. He also holds his Series 7 and 63 licenses and is a licensed real estate broker.
In the realm of institutional financial services, Kenneth Polcari stands out as a go-to expert in starting up, turning around, and growing investment operations to consistent profitability and world-class service. His background in managing institutional relationships and directing trading strategies has given him the steely drive, inventiveness, and perseverance to prevail in the most volatile economic climates.
Currently Mr. Polcari is Director of NYSE Floor Operations at O’Neil Securities, Inc – the B/D division of Wm. O’Neil & Company out of Los Angeles, CA and represents the interests of global institutional asset managers that need to access the world’s equity markets. He is a Board Advisor/Markets Expert for The Integral Board Group and a speaker on behalf of The American College. Prior to this he was a Managing Director for 15 yrs at Icap Corps, LLC- a British based Inter-dealer Broker. Earlier in his career, Mr. Polcari served as Senior Vice President, member New York Stock Exchange and division manager with Salomon Brothers directing their NYSE Division during the heady bull market of the 1990’s. In addition to managing the division, he helped design an equity technology platform that automated and enhanced trading functions and significantly improved productivity. Mr. Polcari gained a reputation for superior management skills, client service and relationship building, as well as a savvy insight in risk mitigation.
Mr. Polcari has leveraged his superior communication and presentation skills and is a “CNBC Exclusive Contributor/Market Analyst”. You can find him giving market commentary from the floor of the NYSE across a range of their US programming including “The Half-Time Report”, “Power Lunch” and “Closing Bell” in addition to giving US market commentary to CNBC Asia and CNBC/Italy. In addition he is oft quoted in major print media outlets that include the WSJ, FT, Reuters and regional local and International publications.
He is an engaging public speaker that seeks to help the industry and the public understand current market structure and trends as well as institutional investment styles. Topics include the Evolution of the U.S. Equity Markets & the Role of Technology, Rules And Regulations, Policy Initiatives as well as
The Impact of 9/11 on the U.S. Financial Markets.
Mr. Polcari received his Bachelor of Science in Business Administration, with a major in Finance, from Boston University. He holds FINRA Licenses in Series 7, 24, 27, 55, and 63.
Active in the financial community, he is as a member of the Security Traders Association (STA) and has served on its Trading Rules Committee. In addition he is a board member of the National Organization of Investment Professionals (NOIP), the Security Traders Association of NY (STANY) and the National Security Traders Association. Leadership roles include past president of the Independent Floor Brokers, former governor of the NYSE, former member of the Market Performance Committee, the Technology Committee, and the FACTS Program. He is also a supporter of a variety of charitable causes including the Members Handicapped Children’s Fund, The Headstrong Project, the Non-Hodgkin’s Lymphoma Society, American Cancer Society, and The Spaulding Traumatic Brain Injury Rehabilitation Hospital. He lives in Westchester County, NY with his wife – also a former member of the NYSE – and is the father of two daughters.
Mr. Kenny Polcari is a member and Director of NYSE Floor Operations on behalf of O’Neil Securities, Inc. representing the interests of institutional asset managers needing access to global equity markets. In addition to his role as an Adjunct Professor at the Boston Graduate School he is also a Markets Expert at Integral Board Group, LLC. His decades long experience in the equity markets and his position on the floor of the exchange gives him and his clients a unique view of the daily market action. Mr. Polcari is a veteran equities trader, a CNBC exclusive contributor / market commentator appearing across a range of CNBC Global programming, an engaging speaker and champion of the U.S. capital markets and can be found working with the financial media, industry conferences and investor events helping public audiences understand the markets. In addition to CNBC – media highlights have included Bloomberg, CNN (domestic and international), ABC, Fox, Reuters, AP, BBC, WSJ, Financial Times, Yahoo Finance. Additional international credits include Der Spiegal, China Business and RAI. He is well known for his daily boots-on-the-ground market analysis. Every morning, Mr. Polcari publishes a large-audience newsletter starting with insights on the day’s market action and ends with a recipe to serve the mood of the markets. Earlier in his career, he served as Managing Director at ICAP Corps, LLC and was Senior Vice President, member New York Stock Exchange and division manager with Salomon Brothers directing their NYSE Division. Mr. Polcari graduated from Boston University School of Management with a BS/BA degree with a concentration in Finance. He is a frequent lecturer on topics such as the Evolution of the U.S. Equity Markets & the Role of Technology, Rules And Regulations, Policy Initiatives as well as The Impact of 9/11 on the U.S. Financial Markets.
As a columnist for Yahoo! Finance, I explain how the momentous changes sweeping through the economy affect ordinary people–and what you can do about it. My latest book, Liberty For All: A Manifesto for Reclaiming Financial and Political Freedom, is a plea for everyone–have-a-lots, have-a-littles, and have-nots–to develop greater self-reliance and rediscover the genuine meaning of liberty in America. My prior book, Rebounders: How Winners Pivot from Setback to Success, explains how nearly everyone can get better at bouncing back from the adversities that are inevitable in business, avocations, relationships and life. These two books encapsulate my learning so far about the ways we all need to adapt in a Darwinian economy if we want to thrive and prosper.
Before starting at Yahoo! in 2013, I was Chief Business Correspondent for U.S. News & World Report, where I worked as a writer for more than 20 years. I’m also a frequent commenter on networks such as CNN, MSNBC, and Fox, plus a lot of local radio stations, where I try to extract meaning from the torrent of information that flows out of today’s media.
In more than 20 years as a journalist, I’ve ridden on submarines, flown on Air Force jets and tromped through mud with soldiers while covering the Pentagon. I’ve walked the halls on Capitol Hill and interviewed many of America’s top political and business leaders.
On September 11, 2001, shortly after I moved from Washington to New York to cover business, I saw the twin towers burning from a distance–then got summoned to Washington to help cover the Pentagon, which had been my beat just a couple months earlier. That evening, I watched the Pentagon burning from a distance, a perverse twofer. It felt humbling and inspiring to have a role covering the most newsworthy event in the nation in at least a generation.
When I covered the Pentagon, I won the Gerald R. Ford Prize for Distinguished Reporting on National Defense. I’ve also won awards from the National Press Club, the Society of Professional Journalists and the International Association of Firefighters. And I’ve been a finalist for the Livingston Award for Young Journalists and the National Magazine Award.
I grew up in Pittsburgh, which makes me a stalwart citizen of Steeler Nation. I graduated from Boston College in 1988 with degrees in English and economics, and wrote my senior thesis on Henry James. I recently came across that thesis in a stained cardboard box in my basement; it reminded me that liberal education is an underappreciated privilege. The Jesuits like to say that learning how to learn is the most important thing students can gain from education. These days, learning how to speak Chinese might be a close second, but when it comes to journalism, at least, the Jesuits are right.
My first book, which I co-authored with Don Shepperd, was Bury Us Upside Down: The Misty Pilots and the Secret Battle for the Ho Chi Minh Trail. It’s about a fascinating group of pilots who flew extremely hazardous, top-secret missions over North Vietnam in the late 1960s. Researching and writing that book taught me a lot about America’s most unpopular war, and about America itself. John McCain, who spent more than five years as a prisoner of war in North Vietnam, wrote the foreword. (That was before his 2008 presidential run.) Don was a great partner whom I still count as a valued friend.
After that, I wrote Firefight: Inside the Battle to Save the Pentagon on 9-11, with Patrick Creed, a volunteer firefighter and Army Reserve officer. Although I spent many days in the Pentagon after 9-11, this book was Pat’s idea. We met serendipitously and decided that with his knowledge of firefighting and my experience working in the Pentagon, we’d make a good team. While we were writing the book, Pat’s Army Reserve unit got activated and sent to Iraq for a year, ending up in a dangerous area during one of the bloodiest times of the U.S. operation there. Pat’s unit suffered some serious casualties and Pat himself was injured in a roadside bombing. It made our work on the book harder, but more meaningful. Pat has recovered and we both feel gratified to have provided the most detailed account on record of what happened inside the nation’s military headquarters after American Airlines Flight 77 slammed into the building on 9-11. Writing that book with Pat was a moving and important experience.
I’m not sure what big projects I’ll work on in the future, but humanity provides so much rich material that I feel confident I’ll find fascinating work for as long as I’m lucky enough to practice journalism.
John Neal directs PTI Securities’ Glendale, Arizona office serving the firm’s clients in the Phoenix metro area and across the Western U.S. He oversees day-to-day operations, including client services, investor education, staff management and marketing. John has more than 12 years of management experience in the securities and financial services industry. He joined PTI Securities in 2003 in this role. Prior to that time, he was a branch manager with Phoenix area firms, Granite Capital Management and, most recently, Independent Financial Management. A native of Pittsburgh, Pennsylvania, John earned a bachelor’s degree in international management from Arizona State University in Tempe. Away from work, John enjoys reading, live music and outdoor activities. He also volunteers with the St. Vincent De Paul Society and the Lupus Foundation of America. Married with two children, John and his family live in Peoria, Arizona.
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